Cecelia Levenstein Sells 11,000 Shares of UniFirst Co. (NYSE:UNF) Stock

UniFirst Co. (NYSE:UNFGet Free Report) major shareholder Cecelia Levenstein sold 11,000 shares of UniFirst stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $158.73, for a total value of $1,746,030.00. Following the transaction, the insider now owns 87,558 shares in the company, valued at approximately $13,898,081.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

UniFirst Trading Down 1.3 %

Shares of UNF opened at $156.10 on Friday. The company’s 50-day moving average price is $162.96 and its 200 day moving average price is $169.12. UniFirst Co. has a 12-month low of $150.50 and a 12-month high of $187.22. The firm has a market cap of $2.91 billion, a P/E ratio of 25.60 and a beta of 0.85.

UniFirst (NYSE:UNFGet Free Report) last released its quarterly earnings results on Wednesday, March 27th. The textile maker reported $1.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.41 by ($0.19). UniFirst had a net margin of 4.92% and a return on equity of 6.19%. The company had revenue of $590.71 million during the quarter, compared to analysts’ expectations of $587.56 million. Equities research analysts forecast that UniFirst Co. will post 7.48 earnings per share for the current year.

UniFirst Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $1.32 annualized dividend and a dividend yield of 0.85%. UniFirst’s dividend payout ratio is currently 21.60%.

Institutional Investors Weigh In On UniFirst

Several institutional investors and hedge funds have recently modified their holdings of UNF. New York State Common Retirement Fund increased its stake in UniFirst by 4.5% during the third quarter. New York State Common Retirement Fund now owns 6,288 shares of the textile maker’s stock worth $1,025,000 after purchasing an additional 268 shares during the period. Keybank National Association OH increased its stake in UniFirst by 4.1% during the 3rd quarter. Keybank National Association OH now owns 2,160 shares of the textile maker’s stock worth $352,000 after buying an additional 85 shares during the period. Swiss National Bank lifted its holdings in UniFirst by 0.9% during the 3rd quarter. Swiss National Bank now owns 33,200 shares of the textile maker’s stock worth $5,412,000 after buying an additional 300 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in UniFirst by 4.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 195,832 shares of the textile maker’s stock valued at $31,923,000 after buying an additional 8,734 shares during the period. Finally, Pathstone Family Office LLC grew its stake in shares of UniFirst by 5.9% in the third quarter. Pathstone Family Office LLC now owns 3,373 shares of the textile maker’s stock worth $550,000 after acquiring an additional 189 shares in the last quarter. Hedge funds and other institutional investors own 78.17% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the company. StockNews.com upgraded UniFirst from a “hold” rating to a “buy” rating in a report on Tuesday, May 21st. Barclays lifted their target price on shares of UniFirst from $160.00 to $180.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 29th. Finally, UBS Group increased their price target on shares of UniFirst from $184.00 to $186.00 and gave the company a “neutral” rating in a research note on Thursday, March 28th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, UniFirst has an average rating of “Hold” and a consensus target price of $177.75.

Read Our Latest Report on UniFirst

UniFirst Company Profile

(Get Free Report)

UniFirst Corporation provides workplace uniforms and protective work wear clothing in the United States, Europe, and Canada. The company operates through U.S. and Canadian Rental and Cleaning, Manufacturing, Specialty Garments Rental and Cleaning, and First Aid segments. It designs, manufactures, personalizes, rents, cleans, delivers, and sells a range of uniforms and protective clothing, including shirts, pants, jackets, coveralls, lab coats, smocks, and aprons; and specialized protective wear, such as flame resistant and high visibility garments.

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